Everything else held constant, when the current value of the domestic exchange rate increases, the ________ of domestic assets ________
A) quantity supplied; does not change
B) supply; decreases
C) quantity supplied; increases
D) supply; increases
A
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When the unemployment rate is ________ the natural unemployment rate, real GDP is ________
A) above; increasing B) above; above potential GDP C) below; above potential GDP D) below; increasing E) equal to; either equal to potential GDP or above potential GDP
The demand for a product is inelastic whenever
A. the percentage change in quantity demanded is less than the percentage change in price. B. the percentage change in quantity demanded is higher than the percentage changes in price. C. the percentage change in quantity demanded is equal to the percentage changes in price. D. the quantity demanded changes by zero when price changes.
Oligopolies are known for the mutual interdependence of firms
Indicate whether the statement is true or false
A fact based on observable phenomenon that is not influenced by differences in personal opinion is called
a. an objective concept. b. a subjective concept. c. an unintended consequence. d. ceteris paribus.